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to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours trying to come to a bipartisan agreement on a smaller fallback plan to keep at least some taxes from going up. after the meeting, house democrat leader nancy pelosi told us she's at least a little encouraged. >> it was constructive. as i say, candor is constructive, and i think it moved us forward, but we'll see. >> reporter: it was the first meeting with the president and all the congressional leaders in six weeks. it follows an impasse that has shaken wall street, the dow down more than 400 points since talks stalled last week. and on main street, business owners like drew greenblatt, who owns a wire basket manufacturing company in baltimore, say the coming fiscal cliff is already causing pain because they just don't know what will happen to their taxes. >> right now we're doing our
. >>> congress and the white house have about 13 hours to find a solution to the fiscal cliff. political reporter jamie dupree joins us via skype from washington. jamie, is there any progress being made? >> reporter: there were late night and early-morning talks. the leaders spoke by telephone. the things did not work out very well between the speaker and president obama. they didn't work out too well between the senate republican leader and the senate majority leader harry reid either. reid stepped back and now mitch mcconnell, the republican leader, is negotiating director with vice president biden. some of the details referred to leaked out may be the new income threshold with taxes going up about $400,000, $450,000. there could be a number of other things. there's so many different moving parts in this. as of right now, we still don't have a final agreement. the senate is going to be in session in just a few minutes at the top of the hour. we hope to get an update from both leaders at that point in time. >> i've heard the fiscal cliff it's been more described as a fiscal cliff slope. so it's
american, the fiscal cliff. we reach that cliff you can the brink in just two days. about two hours ago, negotiators hit two major snags, one over social security and the other over tax hikes, who should get them. bring in contributor nor "newsweek" and the daily beast and cnn contributor, john avlon, for his opinion on what is happening in washington. how significant is it that we are a half a day or day and a half, i guess, away from this cliff and there's no agreement? >> it's hugely significant. the countdown is on. the clock is ticking, literally, to the fiscal cliff. and as others have noted today, we have known about this cliff for 500 days. this is the world's most anticipatable political and economic problem. congress set this time bomb, now they are scrambling to defuse it before it goes off and threatens to take our economic recovery as a country and kick us back into recession. the fact this is happening in last-minute negotiations and great knew as dana bash reported that joe biden and mitch mcconnell seem to be backchanneling and got a constructive relationship in the past
at congress with distain and rightfully so. with the deadline on the fiscal cliff only hours away we've failed to reach a reasonable compromise to move the economy forward and ward off painful tax hikes on the middle class. >> reporter: so everybody is waiting to see if the senate can reach a deal on the fiscal cliff. it's not entirely clear when the house would act. i talked to a key leadership aide who he said if the senate passes a deal we could certainly signal that we will take it up perhaps tomorrow morning and that would keep everybody calm, but first things first, they need a deal, jon. jon: by my calculation they have less than 13 hours to accomplish that. mike emanuel, thank you. >> reporter: thank you, sir. jon: let's take a look at the dow with all this fiscal cliff nonsense going on. it's up, actually about 8 points right there as you can see. still down below 13,000, though, after heavy losses last week. very light trading also as you might imagine on this day before the market is closed for the new year's holiday. while congress cannot seem to agree on a fiscal cliff fix, it loo
on an agreement. there is more work to do. the hour is. lori: fiscal cliff taking away from what has been a solid year for stocks. s&p 500 up 11 1/2%. nasdaq up 14%. accordingly we're looking for answers. ashley: apple shares clawing back from the three-month slide. baron's jack hough says the stock has more upside ahead and he will explain why. lori: as we do every 15 minutes, let's head down to the floor. diane macedo covering all the action. diane, stocks climbing ever so slightly higher. all eyes must be on washington. are investors more encouraged we will get some kind of a deal, however you want to characterize it by midnight tonight? >> hi, lori, hi, ashley. doesn't seem like it if you look at market numbers. they're hiring when we started this morning but they're actually lower before the president started speaking today. the dow is up 45 points. nasdaq is up about 32, and s&p is up about nine. not a huge amount of optimism. still across the board green. we're keeping an eye on duff and phelps. this is a private equity firm, struck a deal to buy that company for $365 million that is 19% p
with an agreement to avert going over the so-called fiscal cliff. >> talks between the two sides appear to be stalled right now. only hours to go, any reason for optimism this morning? >> it's hard to say. it is not looking good at this point. today is a rare new year's eve session of congress following a weekend where they again tried to reach a deal and still no compromise. the u.s. is just hours away from going over that fiscal cliff. without a deal before midnight, americans will be bringing in this new year with sweeping tax hikes and swing -- a tactic -- and cuts. >> >> t . >> i hope that they can work together and realize that this is affecting everyone. >> both chambers will reconvene this morning at whichthat they k together and realize that this is affecting everyone. >> both chambers will reconvene this morning at which point, there are just 12 hours left until this deadline. >> whatboth chambers will recone this morning at which point, there are just 12 hours left until this deadline. >> what are lawmakers working on today? >> we understand that senator harry reid, the major
, and going over the fiscal cliff. if congress fails to act in the remaining hours of 2012, taxes will go up on all americans and a series of mandatory government spending cuts will kick in. hello, new year. hello, new recession. after two years of missing self-imposed deadline after self-imposed deadline, all eyes were on the senate over the weekend as the house's failure to even bring a plan to a vote left it up to the upper chamber to find a way out. vice president biden who had remained on the sidelines in this round of talks was even called in to help move things along. but as the saying goes, insanity is doing the same thing over and over again and expecting different results. this morning, insanity continues as the clock ticks down and we have less than 17 hours to go. so joining us now to help us sort out this mess, we have former adviser to the bush administration and the romney campaign, dan senor. dan, will we go over the fiscal cliff? >> i'm afraid we will. i think it will get fixed right after right into the new year but i don't think it will get solved. >> something small, kick
-called fiscal cliff. it's come down to a matter of hours. midnight tomorrow, everybody's taxes going up unless something happens in washington, d.c. hello to you all and welcome to weekends with alex witt. i'm t.j. holmes filling in for alex. a consequence of history in the nation's capital if congress cannot reach a compromise deal on tax and spending cuts. a short time ago, we were hearing from the president talking about the fiscal cliff negotiations. he spoke exclusively on "meet the press" and he had a message for congress. >> at minimum, make sure people's taxes don't go up and 2 million people don't lose their unemployment. i was modestly hopeful yesterday. now, the pressure is on congress to produce. >> the president responded to what would happen if no agreement is reached and the nation does fall over that cliff. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. if people start seeing that on januar
until the fiscal cliff deadline. and on what is a holiday weekend for many, that is not the case for congressional leaders in washington. there was a sense of urgency today as the president met with house and senate leaders along with the treasury secretary and vice president a short while ago at the white house to try and forge a last-minute deal. the president says he is optimistic, but at this hour, the fiscal cliff still looms. we begin our coverage with nbc's white house correspondent, peter alexander who has been watching the developments all day. peter, good evening to you. >> reporter: natalie, good evening to you. after his first meeting with all of the top four congressional lawmakers since before thanksgiving, the president marched into the briefing room here at the white house and he said the time for immediate action is now. he called for a bipartisan agreement and said to congressional leaders, warning them the public's patience has worn out. after an hour-long closed-door meeting with the president, both the democratic and republican congressional leaders left the
>>> 6:00 on the east coast. just 30 hours remain before the country goes over the fiscal cliff, and we're still waiting for a deal. good evening. i'm chris jansing. the senate is going home for tonight. democratic and republican leaders had hoped to reach an agreement by 3:00 this afternoon. >> i was really glad to hear republicans have taken their demand for social security benefit cuts off the table. the truth is, it should never have been on the table to begin with. there's still significant distance between the two sides, but negotiations continue. there's still time left to reach an agreement, and we intend to continue negotiations. i ask unanimous content that the senate proceed tomorrow morning. >> earlier, they took to the floor to explain the setback in negotiations this morning. >> i'm concerned about the lack of urgency here. i think we all know we're running out of time. this is far too much at stake for political gamesmanship. the consequences of this are too high for the american people to be engaged in a political messaging campaign. i'm interested in getting a r
at the white house this afternoon for an 11th hour fiscal cliff faceoff. in just four days paychecks shrink and spending gets slashed if our elected officials can't figure out how to compromise. it will now be in the hands of these six leaders, the president, vice president biden, senate majority leader harry reid and house minority leader nancy pelosi on the democratic side. john boehner and mitch mcconnell representing the republicans. brianna keilar live now from washington. great to see you. house doesn't return to work until sunday. logistically speaking here, is there still enough time to work out a deal? >> i will tell you logistically speaking, logistically speaking, yes. politically speaking, very much unclear, there's a growing amount of pessimism about whether or not that can be done. we've been talking for days about how eyes are on the senate to see what harry reid cobbles together to try to get republican support in the senate and house. he's saying it's hard to see how this can get done by january 1st. so we're seeing a lot of managing of expectations and certainly a lot of p
the fiscal cliff in just hours, time is running out for congress to make a deal. and what a difference a day makes. on thursday, things looked bleak. >> speaker boehner is unwilling to negotiate we have not heard a word from leader mcconnell. nothing is happening. >> we wanted an agreement, but we had no takers. >> o'donnell: it took a trip to the white house and a package scolding from the president. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> o'donnell: but by week's end, senate leaders agreed to make a last-ditch effort to get a deal. >> so i'm hopeful and optimistic. >> i'm going to do everything i can. i'm confident senator mcconnell will do the same. >> o'donnell: we'll have the
. >> 30 hours to go until the country hits the fiscal cliff and still no deal. i'm melissa rayberger, and the white house has sent one of its top negotiators to capitol hill, but right now it's all centered on the senate, and as democrats dig in to protect social programs, republicans do the same on taxes. >> raising taxes to pay for new spending is not something that republicans believe this debate ought to be about. it ought to be about reducing the deficit and the debt, and what they are essentially suggesting is we want new taxes. we want higher taxes on people in this country to pay for new spending. >> so what happens next? with us nbc news capitol hill correspondent mike vic rah and nbc news white house correspondent kristen welker. mike, let's get started with you. what's happening right now in the senate. i understand there's an update on the chained cpi. >> reporter: they say the darkest hour right before the dawn, melissa. everybody ought to hope that's true, at least if you don't want to see your taxes go up on midnight on monday and tuesday night because everything seems
than 25 hours away. lawmaker who's think the president wants to go over the fiscal cliff? why? i will ask him. there is no mass-produced human. and there is one store that recognizes it. the sleep number store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualizes your sleep. the only place you'll find the sleep number bed. a bed with dual-air technology that allows you to adjust to the support your body needs. and the only place you'll find the sleep number year-end event. save 50% on the final closeout of our silver limited edition bed. plus, through new year's day, special financing on selected beds. in the name of human individuality: the sleep number collection. and the sleep number year-end event. exclusively at one of our 400 sleep number stores nationwide, where queen mattresses start at just $699. sleep number. comfort individualized. >> our coverage of the fiscal cliff continues moments away. other news making headlines and breaking at this hour. we've learned
wake up the deadline to the fiscal cliff is just 14 hours ai wa. there's no deal yet, but members of congress are heading back to capitol hill. first, breaking news on the condition of secretary of state hillary clinton. >> she's in a new york city hospital this morning being treated for a blood clot. doctors say it's related to a concussion that's kept her out of the office for the past three weeks. margaret brennan is in washington with the latest. margaret good morning. >> reporter: good morning to you. secretary clinton is taking anti-coagulant to thin out the blood clot. doctors will monitor her for at least the next 48 hours. >> a warm welcome to the secretary of state. >> reporter: secretary of state hillary clinton was admitted to new york presbyterian hospital on sunday after doctors discovered a blood clot during what was termed a follow-up exam to check on her recovery from a recent concussion. >> thank you very much. how are you? >> reporter: clinton's health scare began after she contracted a stomach illness following a whirl wind trip through eur
cliff. we'll see what happens over the next few hours. tom foreman, thank you. much more on the fiscal cliff coming up. >>> there are serious ramifications for almost every american involved in this negotiati negotiation. we'll update when when we come back. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> okay, we've got the breaking news we're following here in washington. we've been thinking about it. we've been talking about it for a long time. guess what, the united states is now going over the so-called fiscal cliff. that's because the house of representatives is adjourning as
. gregg: this is it. we are just hours away from falling off the so-called fiscal cliff. tax hikes for nearly every american. lots of different ones. spending cuts of totaling more than a trillion dollars. by all indications, nothing, we mean nothing has changed on capitol hill. senate majority leader harry reid saying significant distance remains between the two sides. good morning everyone, i'm gregg jarrett in for bill hemmer here in "america's newsroom.". >> i'm heather childers in for martha maccallum the senate gavels in at 11:00 a.m. we'll see if there was some miracle overnight. gregg: i doubt that. yesterday, republican senate leader mitch mcconnell made an emergency call to the vice president joe biden in an evident to jump-start negotiations. heather: if no deal is haed out today, majority leader reid says he will call a vote on a separate white house plan that reflects's original proposal. gregg: chief correspondent mike emanuel kicks off the coverage. mike, where do the things stand in the fiscal cliff talks at this critical late-stage? >> reporter: gregg, there seems
and big day of trading on "squawk on the street." >>> tonight, the fiscal cliff deadline just hours away. will d.c. leaders avert the plunge? stay with cnbc for realtime people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit today. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ]'ll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> countdown before the opening bell. the final opening bell of 2012. as we do this one last time. the s&p, of course, negative for december, hasn't done that since 2
as lawmakers struggle to reach a deal to avoid the fiscal cliff. a brand-new hours of fox report next. [ male announcer ] wouldn't it be cool if we took the already great sentra apart and completely reimagined it with best-in-class combined mpg, and more interior room than corolla and civic? and a technology suite with bluetooth, navigation and other handy stuff? yeahthat would be cool. introducing the all-new nissan sentra. it's our most innovative sentra ever. nissan. innovation that excites. now get a $169-per-month lease on a 2013 nissan sentra. ♪ olaf gets great rewards for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? >> this is the fox report. tonight, last minute negotiations in washington right now. we're inside 30 hours fr
regarding the fiscal cliff, but it's low volumes here as we enter the last hour or so of trading. back to you. >> we also have some news to bring you, broken last night. i expect john harwood talked about it on the special that we did last night. secretary of state hillary clinton is in a new york hospital this morning being treated from a blood clt clot resulting from a concussion you suffered earlier this month. she had been expected to return to work this week. >>> coming up, deal or no deal? we're going to look beyond the fiscal cliff and what it will mean for the markets. we have jim o'neill. he's going to join us to talk about whether he is bullish for the start of 2013 and how much the fiscal cliff is playing into his outlook. >>> welcome back to "squawk box" this morning. take a look at futures for the day, the s&p is up a little over 7 points as we await to see what happens with the fiscal cliff. >> it is the last trading day of the year. how will the global marketses react to our domestic drama? calling in right now on the squawk news line is jim o'neill. it's great to be spe
. >>> meantime, the fiscal cliff stand-off in washington continues. at this late hour the senate and house of representatives both went into recess, still no deal. republican senate leader mitch mcconnell reached out to vice president joe biden to help reach an agreement. two men who have served as their party's closers, so to speak, on tough deals before. senate majority leader harry reid says he plans to have a plan up for a vote tomorrow morning. although there are serious differences on both sides. >> we're not going to have any social security cuts at this stage, it just doesn't seem appropriate. i still hold out hope we can get something done but i'm not overly optimistic but i am cautiously optimistic. >> republicans pushed back on claims by democrats that the social security benefit measurement, which is known as the chained cpi and basically would reduce the amount of money that senior citizens get under social security, was part of the republican plan. in any case, that is off the table. senator john mccain posted this on twitter, most of us agree the chained cpi is off the table
manure around here. >> this isn't school house rock. >> the fiscal cliff. whatever. >> there is barely 00 hours. >> the last minute was before christmas. >> what is going on here? is. >> how come there is no sense of urgency. >> the entire house coming back sunday night. >> how is john boehner going to get the votes. he couldn't get the votes for his plan b. >> a week ago we were closer than we have been before. >> do they presume the voters are that dumb? >> they passed it. >> they did it noing that they are unable to make deals on anything. >> how about complete chaos? >> there ought to be a new rule in congress. >> you cannot create anymore artificial crisis. >> tim geithner wrote a letter to congress. we are going to hit the debt ceiling. it never ends. >> happy new year's america. ♪ 29 and a half hours that is how long congress will have to avoid going over the fiscal curve on sunday night. >> if we go over the cliff, mr. president, the house of representatives as we speak with four days left after today with the first of the year, aren't here. i can't mamg they are out wherever th
, because, ali, in less than 30 hours before we go over the fiscal cliff, and it is not clear whether a last-minute deal is even possible or whether this is going to be all about shifting blame. i want you to listen to senate majority leader harry reid. >> with 36 hours left until the country goes over the cliff, i remain hopeful and realistic about the prospects of reaching a bipartisan agreement, and at some point in the negotiating process, it is obvious when the other side is intentionally demanding concessions that they know that the other side is not willing to make. we are not there, prpt. i hope, mr. president, that we are ready to go forward with the status, but we are not at the point where i can say we have this for you. >> and now joining us from washington, congresswoman bass, and can you talk to us about the standstill right now. are you optimistic that there is any agreements made today? >> well, you know, i am optimistic. i mean i know it sounds like a very short period of time, 30 hours, but that is enough time for a deal to come together, and you know that the basic paramet
plunge off the fiscal cliff. with no plan and no apparent hope. but here we are, and we have got to do something. if we are determined to go over the cliff, as we seem, we have to do something to stop and the landing. at the bottom of the fiscal cliff are immediate and massive tax increases, deep and indiscriminate spending cuts, and a risk of another recession. if we come down on the final hours -- we have to bang choices -- to do nothing and cause an unbelievable amount of hardship for our fellow americans, or to do something to reduce the suffering inflicted on our citizens by an inflexible political system. mr. president, i choose to do something. today i am introducing the act -- the cliff alleviation at the last minute act. the act would do three important things. it will soften the financial blow the fiscal cliff, it will colmar financial markets, it gives us the certainty of a plan. it allows us, if we ever find the courage, to pursue the fiscal grand bargain that has eluded us so far. the financial markets are watching us and getting warmer -- nervous by the hour. we need to a
exist, craig, now with barely 100 hours until the fiscal cliff deadline. two sides made it very clear. john boehner couldn't pass with house republicans the idea of raising taxes only on those making more than a million dollars. the president has insisted throughout that $250,000 had been his limit. it's bumped up to $400,000. but even when they were within just a couple hundred billion dollars, which seems like a lot to you and me but it is not a lot in the language of washington, then they went opposite directions an enwhere the political particular sis stands at this moment. >> all right. peter and alexander, thank you good sir. joining me now karen bass of california. congresswoman, good to see you and nice to see you there from the capitol. you are still in california because house members, again, haven't been called back and given the 48-hour notice to my knowledge. have you? >> exactly. i have flights scheduled every day waiting for that notice to come. i think it is a shame. i think the house should be back in business in d.c. right now. the senate's in session. there's no rea
hill they can do so again. >> less than 26 hours from what everyone calls a fiscal cliff. it would be comprehensive big package we hear them talk about, the big compromise that speaker boen and the president had worked out a year and a half ago? >> if you want what is known a as the grand bargain you would likely get in two steps. a small down payment, a tax rate increase and some of the spending measures and some of the other tax measures and perhaps instructions for the next six to eight months to congress to work on entitlement and spending reform and broader tax reform package. but all those specific details when you talk about entitlements and spending on the bigger side. $3-4 trillion deal that would have to be filled in over the next year. >> all right. rich, we appreciate it. just a reminder, 5:00 a.m., cheryl casone will have the latest on overseas trading but also any potential deal or leak that has a deal may be in the works. find out right here on the fox big network. fox business network team starting here at 5:00 a.m. here in new york city. that wraps it right now. we
more than five hours to hash out this deal. latest on the fiscal cliff negotiations. little longer than that, actually. we'll explain that with the fox all-stars after this. ♪ i wish my patients could see what i see. ♪ that over time, having high cholesterol and any of these risk factors can put them at increased risk for plaque buildup inheir arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise alonaren't enough, i prescribe crestor. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. [ female announcer ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or may become pregnant. tell your doctor about other medicines yore taking. ll your doctoright away if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. these could be signs of rare but serious side effects. ♪ is your cholesterol at goal? talk to youdoctor about crestor. [ femalanno
from the hospital. >>> last chance. the nation now just hours from going over the fiscal cliff after lawmakers fail to reach a deal over the weekend. could a last-minute push from vice president joe biden get something done before your taxes go up? >>> and oh, baby. kanye wecakanye west surprises y announcing his girlfriend, kim kardashian, is pregnant with their first child. how her family is reacting to the news "today," monday, december 31st, 2012. >> announcer: from nbc news, this is "today" with matt lauer and savannah guthrie live from studio 1a in rockefeller plaza. >> welcome to "today" on a very busy monday morning. i'm willie geist. >> and i'm erica hill. matt and savannah have the morning off. >>> we'll have the latest on secretary of state clinton's condition in a live report straight ahead. it is the last day of 2012. >> you and i are both in the same situation with young children. >>> people filing into times square in new york city. it is the world's biggest party. of course, security will be extremely tight. we'll check in on celebrations there and around the world. >
. >> as the likelihood of going over the fiscal cliff becomes greater by the hour, what does it mean to you, the american taxpayer, and your wallet. we have broken down the most important things everyone must know if we do in fact go over the cliff. joining me is charles payne and --. >> i'm actually with brite-bart news, just to let you know. >> okay, i apologize. let's start with the basics. what does this mean for the average american if, in fact, december 31st comes and goes we go over the cliff? keri? >> first of all, it will be like a twilight zone for a lot of people in the middle class. it's almost like you will have a number of people who were trying to actually get into the upper income levels and then all of a sudden rod sterling is going to come along and say, yeah, guess what, you are rich, but you are going to lose everything. for one thing, we are going to see the -- we are going to see a number of people lose their jobs. about 3.4 million jobs are projected to be lost according to the cbo. we are also going to see the obamacare tax hikes hit us if you don't have healthcare then you are go
to the hospital with a blood clot. >>> and less than 24 hours until the nation heads over the fiscal cliff. we'll go to washington to see if lawmakers are any closer to cutting a deal and we'll tell you what will happen if they don't. >>> we begin with today's "y opener," your world in 90 seconds. >>> hillary clinton will be celebrating the new year from a hospital bed. >> secretary of state hillary clinton is hospitalized in new york city. >> she's got a blood clot she suffered from a fall. >> it left her severely dehydrat dehydrated. clinton had been planning to return to work this week. >> there's still significant difference between the two sides. >> today the final day of fiscal cliff negotiations. >> i want everybody know i'm willing to get this done but i need a dance partner. >>> vice president joe biden is now in on negotiations. >> do i wish things were more order will i in washington? absolutely. >>> a tour bus crashed on an icy oregon highway has killed nine people and injured 20 others. >> today is december 231st. there's going to be a huge celebration in times square with everyon
when people were starting to lose hope on the edge of the fiscal cliff the president met with leaders and said he was modestly optimistic about a deal on taxes. meeting this the red room, president obama held firm for tax cuts for families making up to $250,000 per year, and joining me on the north lawn of the white house is kristen welker. kristen, let's listen to what the president said about and up or down vote or what he expects from the senate. >> i had a good and constructive discussion here with the leadership about this tax hike on the middle-class. i am optimistic that we can reach an agreement that will be passed in both houses. if an agreement is not reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor and up or down vote for the floor, and i believe a p proposal could pass both houses with majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be be the big new
you, dana. the clock is ticking, 12 hours before we hit that fiscal cliff deadline. if a deal is not reached, how is it going to affect us? the tax policy center crunched numbers. here's a couple scenario. if you're single with no kids and you make $50,000 a year, you you see your taxes go up by $1500. now, take a married couple with two kids making $100,000. they would see their taxes go up $5300 a year. i want to turn to christine patrolman m romans in new york to talk about the people that are really, really going to feel this immediately and it's going to have the greatest impact. who are they? >> the first people to feel it are on extended federal unemployment benefits. for them, for 2 million of them suzanne, on december 29th, that was the end of the last week of unemployment benefits for them. so immediately hundreds of dollars a week of unemployment benefits go away. for everyone else, anybody who works at a company and pays payroll taxes, your taxes will rise. it looks like that will happen no matter what. your pay dhek will be p smaller no matter what because the pay
weekend. good luck in washington now. >>> next hour we'll hear from more lawmakers about the fiscal cliff. we'll have senator bernie sanders from vermont he'll be here as well as representative karen bass of california. in our 1:00 eastern hour right here on msnbc. >>> we need to turn now to weather. a winter storm another one dropping snow in the northeast. take a look now. you know a lot of people -- just a few days away. we've got a little snow coming down here now actually. that's the spot a lot of people are going to gather. right outside the studios here, rockefeller plaza. but the new year's countdown they expect some million people to be out there when the ball drops. but when that ball drops, how bad is it going to be out there? are they going to be getting snowed on? dylan dryer, would you recommend going out there on new year's receive in. >> of course. it's new year's eve in new york city. but the snow will be gone by then. it is a snowstorm nonetheless and the roads and anyone traveling in the northeast will run into some issues. we've already seen some reports of pretty bad
limit. >>> congressman chris van hallen said congress needed to reach a deal on the fiscal cliff by christmas. less than 48 hours until that cliff what does he think now? you are watching msnbc, the place for politics. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. >>> the self-imposed 3:00 p.m. deadline the senate came up with for a deal has come and gone which means without a last minute deal starting january 1st tax hikes and massive spending cuts will be in effect. extended unemployment benefits have ended. we will be live on capitol hill with the latest developments coming up in just a moment. before we take you over to capitol hill here are stories that we are monitoring for you today. a new york woman who allegedly admitted to pushing a subway commuter to his death has been charged with second degree murderer as a hate
morning, at which point there will be just over 12-hours until the u.s. goes over the fiscal cliff. >>> if nothing is done by midnight monday, mandatory tax hikes and spending cuts will kick in, impacting every american. elizabeth corridan is monitoring the situation and brings us the latest. --reporter pkg-as follows -- " as we gather with so much work undone, guide our lawmakers with your wisdom." the senate convened its rare sunday session with a prayer for progress. the house returned from its holiday hiatus. with less than 48- hours until the u-s economy goes over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set of spending cuts and tax hikes. >>> "we're apart on some pretty big issues." "i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >>> "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up th
adam: if you're just joining us it has been a wild day in those negotiations over the fiscal cliff. president obama's meeting with congressional leaders ended about an hour ago. the president will make a statement on the fiscal cliff at 5:45 eastern time. we'll take that same live at fbn we have a picture of the white house for you and we will keep you posted when the president comes to the camera. >>> the oil boom doing more than increasing chances we'll become energy independent. it is also bringing about booming investment in the transportation industry. a new report says estimated $45 billion, you heard me correctly, $45 billion bucks will be spent new, expanded pipelines, railcars, rail terminals and that is just next year. how do you get in on this, right? it is a windfall. but is it realistic? we'll turn to andy lipow. andy i would have assumed it was shipped by pipeline. what is it about railcar? it seems awfully 19th century to ship oil that way. >> it is new development in the oil patch but if you look at oil production in north dakota, we simply don't have pipeline to mo
to washington, not until sunday, december 30th. now, 48 hours before the fiscal cliff goes over, is that really enough time to get legislation passed, if there's a real deal on the table? >> reporter: is it enough time? probably. if there's really something that is going to pass the senate, and this is a big if, as jessica said, the oddsmakers are definitely seeing the fiscal cliff happening, us going over the fiscal cliff, but if senate does pass something, that would be the next move, then the house could pretty easily take it up and pass it on sunday night or monday morning, on the actual day of december 31st. i think at this point, it's more of a question of optics, and democrats were definitely trying to take advantage today of the fact that the house republican -- the republican-led house, rather, is not here and won't be here until sunday. we all know that what happens here in washington, is that nothing really happens until they're really up against the deadline. that's why i'm also told by some democrats who really know what the process is going to be, if there is one, that they don't
hours of falling off the fiscal cliff let's bring in our power house political panel. roger stone long time veteran republican are strategist and larry elder, author of the best selling book dear father and dear son. two lives eight hours. welcome and i'm going to say roger stone, should the republican ares support this bill as we know it now? i really think not larry, i think what you are seeing washington at it's worst. republicans in the senate cooling their heels where three guys are behind closed doors where they can tinker around the edges in a system that needs pro growth strategies. instead we are going to get a band-aid? no. i don't think the results will be as good as everybody thinks. it is time to deal you know with the entitlements. keith, listening to president obama today who was not at his new year's gracious and listening to harry reid who is effe effectual in everything he does, do you think the democrats would rather see us go over the cliff take the revenues and know the spending cuts and that is it? more money and more spending? >> i think the democrats want to mak
ago? rich: we're about 12 hours closer to the fiscal cliff as far as negotiations are concerned. the senate is in town. they are meeting but not working on anything fiscal cliff related. the house is coming back on sunday evening according to a republican source, eric cantor, the house majority leader making that announcement on a conference call just a couple of hours ago. so they will be in town. but still we're all waiting on some type of agreement from congressional and perhaps the president, leaders, to have some type of framework for democrats and republicans to vote on. right now we're not there, and so far both sides have taken to blaming one another. >> the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of the house of representatives to get what they want. if the 250 would be brought up, it would pass overwhelmingly. >> we wanted an agreement. but we had no takers. the phone never rang. and so now here we are five days from the new year and we might final
. traffic. >> thank you, jeff. >>> in the developing fiscal cliff negotiations with the clock sticking, top lawmakers are being called to the white house today. it is the first face to face meeting with the president since december 16th. sherry ly is live on capitol hill with the latest. good morning. >> reporter: well, we are here at the white house where that meeting is set to take place at 3:00 this afternoon. it comes with just a few days left to reach a deal or the nation will go over what has become known as the fiscal cliff. the result of going over that cliff would be tax increases and billions of dollars in automatic spending cuts. but as the hours tick down, the negotiations do not appear to be heating up. in his opening remarks on the floor of the senate yesterday, democratic majority leader harry reid accused republican house speaker john boehner of running a dictatorship in the house that is blocking a deal. the speaker has called the house back on sunday leaving just 24 hours for a deal. it is becoming clear though that the solution to the standoff is not going to come solely
the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the market fade if there's no news tomorrow night? >> the nikkei continues its 21-month run. how much is the boj willing to put up with? >> looking a at potential strike in the nation's port on the east and southern coast, the first since '77 that could cost retailers and importers billions. businesses now asking its white house to get involved. >>> you can now get the nokia lumia for free, depending on the service provider contract you sign s that standard practice or a sign the company's flagship phone suspect selling well? >>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on
to top ceos about the latest on the fiscal cliff, whatever the developments are included on that call, we know lloyd blankfein will be on the call. david: keep the picture up. you never know what picture you'll get. go to rich edson following this. we mentioned the fact, actually, you alerted us all via e-mail that this proposal was not really a new proposal. the president was planning, but its led to s&p futures going into the weekend going sharply down. sandy smith there in chicago reporting that, indeed, it was this announcement, the announcement of nothing new that led the futures down. what are the folks there saying? >> well, you know, david, it's, you know, telling they are not saying anything. they left the white house and headed back to the capitol, and when you look at what the opening proposal was from the president, essentially what he detailed in the speech a week ago, essentially what he proposed for the past year and throughout the campaign, unless there was movement within that meeting, and he was really hanging it on republicans to say, okay, i want an up or down vote on
-la! >>> welcome back to "hardball." any moment now we expect to hear from president obama on the 11th hour fiscal cliff talks that he had this afternoon with the congressional leaders. we're joined now about nbc's kristin welker who is on the north lawn of the white house to give us a sense of where we think the talks are at. earlier today we just heard from senate leader mitch mcconnell's office saying he hopes that senate leaders can make recommendations on the fiscal cliff by sunday. kristin, i just want to ask you while we're waiting for the president to come out here, do you get a sense of where the white house is feeling these talks are going? >> reporter: according to a source close to the talks, president obama thought the conversation was constructive this afternoon. he apparently reiterated the plan that he basically mapped out last friday, which would extend the bush era tax cuts for those making $250,000 or less, extend unemployment insurance as well as the estate tax, and i am told that those are two of the sticking points, the estate tax as well as that $250,000 figure. so that's re
.com/pricerewind. >>> about a quarter of the hour on this saturday morning. >>> despite the fiscal cliff, president obama has ended the freeze on federal pay, only about .5%. and biden will see his pay go go up to $231,900. speaker boehner will make $224,600. that's $30,000 more than the pay of senate and house majority and minority leaders. those raises maybe good news for congress. but the rest of america won't be so happy when they see their paycheck next year. it's almost certain that the government will not extend the payroll tax holiday. that means a 2% tax increase for every last one of us. joining me is gerald bernstein, a senior fellow at the center of budget and policy priorities. get the title out. let's get to business. why are we not talking about this? talking about the cliff, but everybody's taxes going up with the payroll tax holiday. >>ith a great question, t.j. an important and underappreciated part of the fiscal cliff. the answer to the why is it really doesn't have any champions. when you hear the list of things people fighting for, estate tax, you hear the unemployment extension, things
% on the day. dagen: thank you so much. we are heading into the final hours before the fiscal cliff arrives. let's send it down to peter barnes. where is mitch mcconnell and harry reid, what is he up to? >> mitch mcconnell is chatting with vice president biden. he has been tasked over here to try to find some sort offdeal, some sort of agreement to avoid the fiscal cliff. they have a lot of history together. twenty-three years in the senate together. they have a good working relationship. people call biden the mcconnell whisper around here. they are able to at least talk and get things done. they have been key players in the last negotiation. i have to tell you, dagen, the white house and the vice president office are not telling anything about the talks. harry reid seems to be on the sidelines right now. dagen: the idea of mitch mcconnell in the vice president whispering to one another in each other's ears, just, well, leaves me with no words. [ laughter ] i think i should end it there before i embarrass myself. >> that is okay. the horse whisperer, the mcconnell whisper -- dagen: the dog
tick down towards the fiscal cliff deadline. >>> china's manufacturing activity hits its fastest pace in a year and a half. >>> and as we head towards the end of the year, global markets look at decent returns, outperformers this year include german, japanese and hong kong stocks. the u.s. senate will meet at 11:00 a.m. eastern after lawmakers tried most of sunday to avoid a fiscal cliff. proposals moved back and forth including tying social security to the chained cpi index. aides say talks between harry reid and mitch mcconnell focus on extending middle class tax breaks and renewing unemployment benefits. president obama says the u.s. markets and economy will suffer if congress fails to act. and here is what the major players had to say at least publicly this weekend. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would continue to tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. >> the sticking point appears to be a willingness, and interest or fra
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